Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Short Interest Up 11.8% in December

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 53,200 shares, a growth of 11.8% from the December 15th total of 47,600 shares. Based on an average daily volume of 75,100 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

A number of hedge funds have recently added to or reduced their stakes in ARDC. B. Riley Wealth Advisors Inc. purchased a new position in shares of Ares Dynamic Credit Allocation Fund in the 2nd quarter valued at about $150,000. Worth Asset Management LLC acquired a new position in Ares Dynamic Credit Allocation Fund during the 3rd quarter worth approximately $172,000. Cornerstone Advisors LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the 3rd quarter valued at approximately $261,000. Janney Montgomery Scott LLC increased its position in shares of Ares Dynamic Credit Allocation Fund by 98.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 21,367 shares of the company’s stock valued at $323,000 after purchasing an additional 10,589 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the 2nd quarter valued at $357,000.

Ares Dynamic Credit Allocation Fund Stock Up 0.5 %

NYSE ARDC traded up $0.07 on Friday, reaching $15.21. The stock had a trading volume of 85,483 shares, compared to its average volume of 82,708. The stock has a fifty day moving average price of $15.20 and a two-hundred day moving average price of $15.17. Ares Dynamic Credit Allocation Fund has a 12-month low of $13.36 and a 12-month high of $15.62.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 21st will be issued a $0.1175 dividend. This represents a $1.41 dividend on an annualized basis and a dividend yield of 9.27%. The ex-dividend date is Tuesday, January 21st.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It primarily invests in the U.S. securities and companies. The fund primarily invests in debt instruments such as senior loans made primarily to companies whose debt is rated below investment grade, corporate bonds that are primarily high yield issues rated below investment grade, equity securities of CLOs and debt securities issued by CLOs, and other fixed-income instruments.